BMC, a Houston-based software enterprise firm, has bought Compuware, a privately held, Detroit-based company co-founded by Peter Karmanos Jr.
The sale, announced Monday in a media release, is expected to be completed in the coming months. Terms are not disclosed.
"This transaction brings together two companies focused on consistently delivering innovative, best-of-breed products to meet the needs of enterprise organizations worldwide," the release says. "The combined company will help customers better manage their mainframe operations, cybersecurity, application development, data, and storage."
In 2014, Thoma Bravo, a private equity investment firm in San Francisco, bought Compuware, then a publicly traded company, in a transaction valued at approximately $2.4 billion. By the time of sale, Karmanos was no longer part of the company.
Compuware, under the San Francisco ownership, had a far lower profile in the Detroit community than under Karmanos.
Compuware Ventures, a subsidiary of Compuware, was the original investor in Deadline Detroit. After its sale to the San Francisco firm, it divested its interest in Deadline Detroit. Karmanos, who moved on to form MadDog Technology in Birmingham, is an investor in Deadline Detroit.